Gulf Brokers DMCC Review 2019

Regulated By:ESCA

Foundation Year:2007

Headquarters:3209, HDS Tower, Cluster F, JLT Dubai, UAE, P.O. Box 118073

Min Deposit:$500

Open Account

Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.

Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.
  • Fundamental analysis tools including the economic calendar. 
  • Technical analysis tools which include 38 in-built indicators and 44 analytical tools. Three chart styles can be displayed on 21 time frames 
  • It supports the use of expert advisors, custom indicators and other extension add-ons which expands the MT5 features.
  • Mobile Trading Platforms

    “The MT5 mobile apps are available for download on the Android and iOS stores. The app can be used to manage orders, trader accounts and perform technical analysis.”

    The MT5 mobile app is available to Gulf Brokers’ clients for trading on the move. It is downloadable on iPhone and android phones. The app interface is simple and user friendly. It integrates with the WebTrader and the MT5 desktop application user accounts.

    Here are some of the features of the MT5 app:

    • Real-time market quotes on all the tradable assets. This enables traders to monitor the price movement of their favourite assets.
    • The app displays 3 types of charts of all the instruments. The charts are displayed on 9 timelines from 1month to 1 month.
    • From the app, trades can be placed, modified or closed. 6 types of pending orders are also available.

    • The app features about 30 indicators and 44 drawing tools used for technical analysis.
    • Real-time account balances, live trades and account history can be monitored from the app.

    Trading Features

    “The only trading feature of note is the market news, which is provided to traders on the Gulf Brokers’ website.”

    News:

    Financial market news is periodically updated on the website. The news is obtained from different sources such as Reuters, CNBC, etc.

    Commissions & Spreads

    “Gulf Brokers charge commissions on all trades.”

    Unlike most brokers, Gulf Brokers’ does not charge a difference between bid and ask prices. All trades are charged a commission of $10 per open/closed positions.

    The table below shows the contract names, contract code and the commission charged for each contract.

    CONTRACT NAME CONTRACT CODE COMMISSION ($)
    CURRENCY PAIRS
    Australian Dollar/USD Futures DAUD 10
    Canadian Dollar/USD Futures DCAD 10
    Swiss Franc/USD Futures DCHF 10
    Euro/USD Futures DEUR 10
    Pound Sterling/USD Futures DGBP 10
    Japanese Yen/USD Futures DJPY 10
    Indian Rupee “Quanto” DINRI 10
    Indian Rupee Mini/USD Futures DINRM 10
    Indian Rupee/EUR Futures DINREUR 10
    Indian Rupee/GBP Futures DINRGBP 10
    USD/Korean Won Futures DUSDKRW 10
    USD/Russian Ruble Futures DUSDRUB 10
    USD/South African Rand Futures DUSDZAR 10
    USD/Chinese Yuan DUSDCNH 10
    METALS
    Gold Futures DG 10
    Spot Gold DGSG 10
    India Gold “Quanto” DIG 10
    DGCX Shanghai Gold Futures DSGC 10
    Silver Futures DS 10
    India Silver “Quanto” DIS 10
    Copper Futures DCU 10
    HYDROCARBON
    Plastics Futures DPPM 10
    Mini Plastics Futures DPPMM 10
    WTI Crude Oil Futures DWTI 10
    Mini WTI Crude Oil Futures DWTIM 10
    Dubai India Crude Oil Futures DICO 10
    Brent Crude Oil Futures DBRC 10
    EQUITIES
    APPLE DAAPL 10
    AXIS BANK DAXSB 10
    FACEBOOK DFB 10
    GOOGLE DGOOGL 10
    HDFC BANK DHDFCB 10
    ICICI BANK DICICIBC 10
    INFOSYS DINFO 10
    JP MORGAN DJPM 10
    L&T DLT 10
    MARUTI SUZUKI DMSIL 10
    MICROSOFT DMSFT 10
    RELIANCE DRIL 10
    SBI DSBIN 10
    TATA MOTORS DTTMT 10
    TCS DTCS 10
    BSE Sensex Futures DBSX 10
    MSCI India INR DMSI 10
    MSCI India USD DMSU 10
    OPTIONS
    Indian Rupee option DINRO 10

    *This data was taken from the Gulf Broker website and was correct at time of writing.

    Bonus & Promotions

    “There are no bonuses or promotions on the Gulf Brokers platform.”

    Gulf Broker does not offer a welcome bonus or a deposit bonus. There are also no demo contests or any promotions on its website.

    Customer Support

    “The customer support team works on a 24/5 time schedule. The support team can be reached via phone and email. Support is offered in English and Arabic.”

    The client support team is available from Sunday to Thursday (24/5). They can be reached via the following channels:

    The phone support team is very courteous and professional. The email we sent was replied in 7 hours. They are very knowledgeable and willing to assist. Support is available in English and Arabic.

    Research

    “The economic calendar is provided as the primary research tool for traders.”

    The economic calendar shows a list of important events from different countries around the world that will have impact on the financial markets. This calendar is featured on the Gulf Brokers website and on the MT5 trading platform.

    Trader Education

    “No trader education is provided.”

    There is no trader academy or training resources provided on the Gulf Brokers’ website. Though, the broker claims that it periodically organizes webinars for its clients, there are no videos of past events posted on the website.

    Trading Experience

    “Gulf Brokers’ services are best for intermediate traders. It does not favour beginner traders neither will it satisfy expert traders.”

    Gulf Brokers operate from Dubai, United Arab Emirates (UAE). It is regulated by the ESCA which is the regulatory body in charge of that region. The broker offer over 40 trading instruments which can be traded on the MT5 trading platform. The platform is user friendly, sophisticated and accommodates most popular trading styles.

    However, the broker does not provide the necessary tools that assist beginner traders in making their trading decisions. There are no training resources for beginner traders. There is no cent account, social trading or demo accounts.  Though the MT5 is apposite for professional traders, Gulf Brokers has not provided other tools that will enable them to perfectly test and execute their strategies. Tools like VPS, daily analysis from reputable research firms, MT5 extension plugins, weekly insights, practice accounts, etc are unavailable.

    It can be deduced that this broker is best for intermediate traders who have some level of experience.

    FAQ

    Here are some of the “Frequently Asked Questions” about Gulf Brokers:

    Where is Gulf Brokers based? 

    Gulf Brokers is based in Dubai, UAE.

    How does Gulf Brokers make money? 

    Gulf Brokers make money by charging commissions on every trade.

    How do I deposit in Gulf Brokers’ account?

    Deposits can be made with a debit/credit card or through bank wire transfers.

    What is the min. deposit for Gulf Brokers? 

    The minimum deposit is $500.

    What is the maximum leverage in Gulf Brokers? 

    The maximum leverage is 1:500.

    How do I open an account with Gulf Brokers? 

    Click on the ‘Apply for account’ button found on the website and fill the form.

    Does Gulf Brokers use MetaTrader? 

    Yes, the MT5 is the only available platform.

    Conclusion

    Gulf Brokers began operations since 2007 in the UAE. The broker promises clients’ fund security, speedy trade executions and excellent customer service. It is regulated by the ESCA which monitors all its operations ensuring conformity to standards. The MT5 platform provided is modern, versatile and very flexible.

    However, the assets listing are minimal when compared to other brokers. The acceptable payment methods do not include e-wallets and modern online payment options. There is no educational content provided for beginner traders and no demo account for practice purposes. The customer care channels are limited; no instant web chat or social media channels. Certainly some areas for improvement.

    Here are some of the advantages of trading with Gulf Brokers:

    • The broker is authorized and regulated by the Emirates Securities and Commodities Authority (ESCA).
    • Speedy trade executions courtesy of cutting edge technology and liquidity provided by DGCX.
    • Security of client funds in top banks within the region.
    • Opportunity to trade with the MT5 on mobile and desktop devices.
    • The broker has an efficient and responsive client support team.
    Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.

    Top User Reviews

    See All User Reviews
    4.8(8)
    Gulf Brokers DMCC Overall Rating
    FX Empire adheres to strict standards of user reviews editorial guidelines to help you make decisions with confidence.
    Rate Gulf Brokers DMCC
    Latest 5 user reviews sorted by highest rating
    Marty Woodhams
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    5.0
    Support:
    5.0
    mobile application MT5

    The free downloadable MT5 mobile application can also be used to manage orders and merchant accounts, as well as various technical analyzes.

    Mister Seemann
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    5.0
    Support:
    5.0
    good Gulf Brokers´s service

    I did not expect such a good Gulf Brokers´s service. Their service I can recommend, with a clear conscience.

    Michael Stadler
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    5.0
    Support:
    5.0
    I am delighted...

    I am delighted that I do not have to look for information on various sources. Financial market reports are regularly updated on the broker's website

    Otmar Turner
    5/5
    Reliability:
    5/5
    Platforms:
    4.0
    Assets:
    3.0
    Support:
    5.0
    Trust

    I was relieved to find that all data was encrypted. I started trading with confidence.

    Tom Langer
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    4.0
    Support:
    5.0
    SATISFACTION WITH SUPPORT

    I am satisfied with the support of Gulf Brokers and I would highly recommend them to others who still hesitate. Thank you. T. Langer

    Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.

    Specs

    Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.
    Rate Gulf Brokers DMCC
    Gulf Brokers DMCC

    Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.

    Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110. Risk Warning: Trading in leverage products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested. All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation to buy or sell any financial instruments or other financial products or services. GULF BROKERS DMCC does not offer its services to the residents of certain jurisdictions such as: Afghanistan, Cuba, Crimea, Israel, Sudan, North Korea, Ethiopia, Iran, Bosna and Herzegovina, Iraq, Lao People's Democratic Republic, Syria, Uganda, Vanuatu and Yemen.